UAE Agthia Group raises stakes in Egyptian Abu Auf Group to 80% - Economy
Agthia Group PJSC, a prominent player in the regional food and beverage industry in Abu Dhabi, has announced Thursday the acquisition of an additional 10 percent stake in Abu Auf Group, the Egyptian healthy snacks and coffee brand.
This consolidation raises Agthia's ownership in Abu Auf from a 60 percent stake in 2022 to 80 percent.
This move aligns with Agthia's strategy to enhance its portfolio in high-growth categories, positioning the company for future value creation.
The Emirati company plans to leverage operational synergies by integrating Abu Auf's innovative and entrepreneurial approach on an ongoing basis.
Abu Auf has opened over 100 new stores and experienced a remarkable 70 percent increase in EBITDA (short for earnings before interest, taxes, depreciation and amortization) in AED terms.
In 2024, the company reported 33 percent year-on-year revenue growth in AED, despite challenges posed by the Egyptian pound's devaluation. This showcases the partnership's strategic advantages.
'This additional investment reflects our belief in the company's potential and our commitment to bringing their innovative products to more consumers across Egypt and beyond,' said Alan Smith, CEO of Agthia Group.
'With Agthia's scale and expertise, Abu Auf has accelerated on the growth journey and remains firmly committed to continued innovation and expansion,' said Ahmed Auf, CEO of Abu Auf Group.
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